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Equity· IPO

China Suntien Green Energy’s IPO debut on Shanghai Stock Exchange today

CKN
minutes 2020/06/29 01:42:36
2,836
China Suntien Green Energy, 600956

Jun 29, 2020 (China Knowledge) - China Suntien Green Energy (600956) to start trading on the Shanghai Stock Exchange - Main Board today, at a public offering price of RMB 3.18 per share, raising RMB 428.51 mln. Its initial listing shares account for 4% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 8.96.

Zhong De Securities, Guotai Junan Securities acted as the lead underwriter, and Zhong De Securities served as the sponsor for the IPO.

Earlier, China Suntien Green Energy said its IPO was 1,356 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. We expect the IPO to hit limit of 44% increment in its first day of listing. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.

China Suntien Green Energy Corp Ltd is a company mainly engaged in the sales of natural gas and wind power generation. The Company operates three segments. The Natural Gas segment is involved in selling natural gas and natural gas appliances to urban gas companies and industrial clients. This segment’s businesses also include natural gas pipeline construction and natural gas pipeline connection services. The Wind Power and Solar Energy segment involves the development, management and operation of wind power plants and solar power plants, and sells electricity to grid companies. The Other segments is engaged in the rental of properties and equipment.

In financial year 2019, China Suntien Green Energy garnered a total revenue of RMB 11.97 bln, up 20% YoY. In terms of net income, it achieved RMB 1,828 mln, up 16% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 12.95% and 4.3% respectively, earning per share (EPS) of 0.36 RMB.

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